I welcome the Prime Minister's increase in defence spending.
The last Conservative Government provided a funded timeline for spending 2.5% of GDP on defence when Keir Starmer would not. Since then, the Conservatives have repeatedly lobbied for the Government to commit to a date. In a major speech yesterday, Kemi Badenoch spoke frankly about the need to put Britain first and invest in our Armed Forces, or face a bitter reckoning.
These delays have hit UK defence companies, such as Babcock International Group at Devonport or Survitec in Plympton, who already face a £600m National Insurance Contribution (NIC) bill this Parliament.
I am pleased that the Government have seen sense and announced that the 2.5% target will be met by 2027. Serious questions remain on how this £13.4bn increase in defence spending will be funded which I and colleagues are seeking answers to.
Looking forward, I will work hard to ensure that this major spending commitment is felt in our region with new jobs and investment in our defence sector.
Read the key takeaways from Kemi's speech above.
